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Mitsui O.S.K. Lines is buying LBC Tank Terminals, one of the world’s largest independent chemicals-focused storage businesses
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The acquisition of the Dutch firm, said to be worth $1.7 billion, was reached between MOL and LBC Tank owners Ardian, APG, and PGGM
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Pending regulatory approvals, the agreement is seen to be finalized within the next three to four months
Mitsui O.S.K. Lines (MOL) is buying LBC Tank Terminals, one of the world’s largest independent chemicals-focused storage businesses.
The acquisition of the Dutch firm, said to be worth $1.7 billion, was reached between MOL and LBC Tank owners Ardian, APG, and PGGM.
Pending regulatory approvals, the agreement is seen to be finalized within the next three to four months, LBC Tank Terminals announced on March 7.
LBC Tank owns and operates seven state-of-the-art storage terminals found in the US (Houston, Baton Rouge, and Freeport) and Europe (Antwerp and Rotterdam).
The facilities offer loading and unloading services for such transportation modes as pipeline, vessel, barge, rail tank car and truck.
The company’s total storage capacity is now at 3.3 million cubic meters.
Under its current owners, LBC Tank “improved operations and safety as well as sustainability performance to reach industry leading performance as recognized by our Platinium Ecovadis rating and 5-star GRESB rating,” the company said in a statement.
It further said it has completed “significant expansions” and developed new projects across chemical and new energies markets, now under construction. The expansion projects allowed LBC to strengthen its capabilities and address the rising demand for storage facilities capable of handling a broader array of new energy products.
Japan-based MOL is one of the world’s biggest shipping companies, specializing in marine transportation and logistics, and operating a diverse global fleet that includes container ships, bulk carriers, oil tankers, chemical tankers, LNG carriers, car carriers, and specialized vessels.
MOL positions the chemical logistics business as a business of growth, and the acquisition is part of its strategy.
The company has already expanded its business in the chemical tanker business by acquiring shares in Nordic Tankers in 2019 and Fairfield Chemical Carriers in 2024, boasting one of the largest fleets in the world.
With the acquisition of LBC Tank, MOL seeks to lead the global chemical logistics industry.
With demand for the transportation of ammonia and CO2 expected to grow as a result of a more decarbonized society, the MOL Group said it will accelerate the development of its next generation energy business by adding infrastructure that will support the energy transition through the acquisition of LBC.
“The operational and commercial synergies between MOL and LBC will provide significant opportunities to further develop the full potential of the company’s platform, particularly in the context of emerging sectors such as new energies,” said MOL.
While the change in ownership marks an important milestone, LBC Tank will continue to operate as an independent platform, with a continued focus on safety, sustainability, service, and efficiency.
LBC said they look forward to further driving growth based on its “strong foundation.”
“We are enthusiastic about the opportunities that lie ahead and remain committed to maintaining our position as an industry leader, providing the expertise and infrastructure necessary to advance the energy transition,” said the company.
